TURIN, Italy -- Fiat shareholders have voted in favour of a merger with Chrysler that has been five years in the works and will shift the 115-year-old carmaker's centre of gravity abroad.
The shareholder approval Friday paves the way for a U.S. listing of the new company, to be called Fiat Chrysler Automobiles, expected by mid-October. It will be legally based in the Netherlands with its fiscal home in Britain.
A caveat to the merger remains. Dissenting shareholders have 15 days to opt out, cashing in their shares at 7.727 euros ($10.35), about 7-per cent above current share price.
If the request exceeds 500 million euros, CEO Sergio Marchionne says the merger would be off ---- for now.
